Cryptocurrency exchange KuCoin does not plan to cut staff, and intends to hire more than 300 new employees in the coming months. CoinDesk reported this, citing CEO Johnny Lu.
“KuCoin has not reduced staff and does not plan to. We are one of the few crypto platforms that continue to grow, relying on an efficient business strategy, focusing on launching new products and maintaining a healthy atmosphere in the team,” he said.
According to Lu, the number of employees recently surpassed 1,000. The company is seeking new workers in technology, compliance and marketing, and is doing all it can to “increase productivity and motivation” of its staff, Lu added.
“We believe that our bet on growth in times of market turbulence is the only right decision that helps us to keep the bar high. Any talk to the contrary should be considered untenable,” the head of KuCoin stressed.
Earlier in July, Liu denied rumors of the platform’s insolvency.
KuCoin reported a 216% growth in its client base over the year — the number of exchange users exceeded 18 million.
In the wake of the market downturn, several crypto platforms began cutting staff, such as Coinbase, BlockFi, Gemini, Crypto.com and OSL.
Also announced staff optimizations at BitMEX, Robinhood, Bitso, Bullish and the parent company of the Brazilian exchange Mercado Bitcoin.
Binance CEO Changpeng Zhao, on the contrary, called the crypto winter a suitable time to hire new staff.
Follow ForkLog’s bitcoin news on our Telegram — cryptocurrency news, prices and analysis.